EU-funded SANAD Technical Assistance Facility hosts financial inclusion forum for refugees
July 1, 2019
The Technical Assistance Facility of the SANAD Fund for MSME (SANAD TAF) held a two-day workshop on 19-20 June in Amman, Jordan, to advance financial inclusion for refugees and migrants. The “Partner Workshop on Cross-Border Collaboration for Financial Inclusion” brought together over 50 participants from Jordan, Lebanon, and Syria – including financial service providers, international and local non-governmental organizations, refugee and migrant entrepreneurs, and SANAD fund investors and technical assistance providers – to coordinate refugee-support efforts and expand access to financial services for refugees and migrants in the region.
Foreign-born residents, a significant proportion of which are refugees and migrants, make up one-third of the population in both Jordan and Lebanon. Increasing financial inclusion for this demographic can help foreign-born residents start businesses, build sustainable livelihoods, and spur economic growth in the communities shared with their hosts. At the workshop, participants shared their experiences with serving this target group: Panelists identified common challenges, exchanged realistic solutions, and explored the next steps for designing needs-driven interventions and leveraging successful programs across borders.
Established in 2011, the SANAD Fund for MSMEs finances micro, small and medium enterprises and low-income households in the Middle East and North Africa via qualified local lenders. SANAD thereby fosters economic development and job creation – including youth employment – agriculture, affordable housing, and innovations in finance and financial technologies. SANAD’s investors include the KfW Development Bank and the European Union.